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Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) is a global biopharmaceutical company dedicated to improving patients' lives by identifying, developing, and commercializing meaningful products that address unmet medical needs. Headquartered in Dublin, Ireland, with U.S. offices in Palo Alto, CA, and Philadelphia, PA, Jazz Pharmaceuticals employs over 875 people worldwide, fostering a highly collaborative and entrepreneurial culture.
Core Business: Jazz Pharmaceuticals focuses on three main therapeutic areas: sleep, hematology/oncology, and pain. The company's diverse product portfolio includes nine approved therapies across neuroscience and oncology indications. Notable products include Xyrem and Xywav for narcolepsy, Zepzelca for metastatic small cell lung cancer, Rylaze for acute lymphoblastic leukemia, Vyxeos for acute myeloid leukemia, and Epidiolex for severe forms of epilepsy, acquired through the purchase of GW Pharmaceuticals in May 2021.
Recent Achievements: In 2023, Jazz Pharmaceuticals reported strong financial performance, achieving over $3.8 billion in total revenue. The company also completed enrollment for a Phase 3 trial of Zepzelca in first-line small cell lung cancer and advanced several late-stage pipeline projects. In May 2024, the U.S. FDA accepted the Biologics License Application (BLA) for zanidatamab, a HER2-targeted bispecific antibody, with a Priority Review designation for treating biliary tract cancer.
Current Projects: Jazz Pharmaceuticals remains committed to expanding its product portfolio through R&D and strategic acquisitions. Ongoing projects include the development of zanidatamab for multiple HER2-expressing cancers, the Phase 3 trial for the combination of zanidatamab with standard chemotherapy for advanced gastric cancer, and the optimization of Epidiolex for broader epilepsy indications.
Financial Condition: As of December 31, 2023, Jazz Pharmaceuticals reported cash and cash equivalents of $1.6 billion. The company sustained a strong operational cash flow, generating $1.09 billion in 2023. Despite an outstanding long-term debt of $5.8 billion, Jazz's disciplined capital allocation supports continued investment in growth and innovation.
Partnerships: The company has key collaborations with various organizations, including BeiGene, Ltd. for the development of zanidatamab. Additionally, Jazz Pharmaceuticals has a strategic partnership with Life Science Cares to drive social impact through employee volunteerism in the U.S., reinforcing its commitment to community engagement.
Jazz Pharmaceuticals continues to innovate and advance its mission to transform lives through pioneering therapeutics in oncology and neuroscience, positioning itself as a leader in addressing complex and unmet medical needs.
Jazz Pharmaceuticals presented updated Phase 2 data for zanidatamab, a dual HER2-targeted bispecific antibody, in combination with chemotherapy for HER2-positive metastatic gastroesophageal adenocarcinoma (mGEA) at ESMO 2024. Key findings include:
- Confirmed objective response rate (cORR) of 84%
- Median duration of response of 18.7 months
- Median progression-free survival (mPFS) of 15.2 months
- Kaplan-Meier–estimated 30-month overall survival of 59%
The safety profile remained manageable with no new safety signals. Jazz continues to enroll patients in the Phase 3 HERIZON-GEA-01 trial, with top-line data expected in Q2 2025.
Jazz Pharmaceuticals (Nasdaq: JAZZ) will present five abstracts at the European Society for Medical Oncology (ESMO) Congress 2024 from September 13-17 in Barcelona, Spain. Key highlights include:
1. New and updated data from a Phase 2 trial of zanidatamab, an investigational dual HER2-targeted bispecific antibody, in combination with chemotherapy for first-line treatment of HER2-positive metastatic gastroesophageal adenocarcinoma (mGEA).
2. Data from a Phase 2 study of zanidatamab combined with chemotherapy and bevacizumab as first-line treatment in HER2-positive metastatic colorectal cancer.
3. Findings from a Phase 2 trial evaluating Zepzelca® (lurbinectedin) and irinotecan in relapsed small cell lung cancer (SCLC) patients.
The company expects results from a Phase 3 clinical trial of zanidatamab in GEA in Q2 2025, potentially supporting global regulatory submissions.
Jazz Pharmaceuticals (Nasdaq: JAZZ) will present eight abstracts at the 15th European Epilepsy Congress (EEC) in Rome, Italy, from September 7-11, 2024. The presentations focus on Epidiolex/Epidyolex (cannabidiol) and its effects on patients with Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome (DS).
Key highlights include:
- BECOME Caregiver Survey results showing improvements in seizure frequency (87%), severity (81%), and non-seizure outcomes in patients using Epidyolex with clobazam
- Post-hoc analysis of GWPCARE3 and GWPCARE4 trials demonstrating clinically meaningful reductions in drop seizures for LGS patients
- Real-world data suggesting high rates of initial misdiagnosis in LGS and DS patients
- Analysis of ketogenic diet effects on cannabidiol plasma concentration and seizure reduction
The presentations aim to build scientific evidence supporting Epidyolex's holistic impact on patients, families, and caregivers.
Jazz Pharmaceuticals announced the pricing of $850 million in 3.125% exchangeable senior notes due 2030, with an option for an additional $150 million. The notes, issued by Jazz Investments I , will mature on September 15, 2030, with a 3.125% annual interest rate. The initial exchange rate is 6.5339 ordinary shares per $1,000 principal amount, equivalent to $153.05 per share. Jazz expects $833.7 million in net proceeds, planning to use $350 million to prepay term loans. Concurrently, Jazz repurchased $150 million of its ordinary shares at $109.32 per share.
Jazz Pharmaceuticals (Nasdaq: JAZZ) announced that its subsidiary, Jazz Investments I , plans to offer $850 million in exchangeable senior notes due 2030 to qualified institutional buyers. The notes will be exchangeable under certain conditions, with the option to settle in cash, ordinary shares, or a combination. Jazz intends to use the proceeds to prepay up to $350 million of term loans and for general corporate purposes. Additionally, Jazz expects to repurchase up to $150 million of its ordinary shares concurrently with the offering. The notes will be unsecured obligations, guaranteed by Jazz Pharmaceuticals, and will rank pari passu with existing 2026 notes but subordinate to secured debts.
Jazz Pharmaceuticals (Nasdaq: JAZZ) announced top-line results from a Phase 3 trial in Japan evaluating cannabidiol oral solution (Epidiolex/Epidyolex) for treating seizures associated with Lennox-Gastaut syndrome, Dravet syndrome, and tuberous sclerosis complex. The trial did not meet its primary efficacy endpoint of reducing seizure frequency compared to baseline in Japanese pediatric patients. However, numeric improvements were observed in primary and secondary endpoints, and no new safety signals were identified.
Despite not meeting the primary endpoint, Jazz remains confident in Epidyolex's clinical profile, citing its success in five previous Phase 3 trials involving over 900 patients globally. The company plans to continue collecting data and engage with Japanese regulatory authorities regarding a potential new drug application.
Jazz Pharmaceuticals plc (Nasdaq: JAZZ) has announced its participation in two upcoming investor conferences in September 2024. The company will be present at the Wells Fargo Healthcare Conference on September 4, with a fireside chat at 7:15 a.m. PT, and the Bank of America Global Healthcare Conference on September 18, with a fireside chat at 7:55 a.m. PT.
Audio webcasts of both events will be available on the Jazz Pharmaceuticals website's Investors section, with replays archived for 30 days. Jazz Pharmaceuticals is a global biopharma company focused on developing life-changing medicines for serious diseases, with a portfolio including therapies for sleep disorders, epilepsy, and cancer. The company is headquartered in Dublin, Ireland, with operations and employees worldwide.
Jazz Pharmaceuticals (Nasdaq: JAZZ) announced their Q2 2024 financial results and updated 2024 guidance. Key growth drivers such as Xywav, Epidiolex, and Rylaze contributed to a 15% YoY revenue increase. Oncology revenues grew by 10% YoY. The company narrowed its 2024 revenue guidance to $4.0-$4.1 billion and affirmed GAAP and non-GAAP adjusted net income guidance. Key highlights include:
- Xywav sales grew by 13% YoY.
- Epidiolex/Epidyolex sales increased by 22% YoY.
- Rylaze sales rose by 6% YoY.
Other updates include the FDA's Priority Review for zanidatamab with a PDUFA date of Nov. 29, 2024, and significant pipeline catalysts expected through 2025. Financial highlights for Q2 2024 include a GAAP net income of $168.6 million ($2.49 per diluted share) and non-GAAP adjusted net income of $364.7 million ($5.30 per diluted share). The company also authorized a new $500 million share repurchase program and completed a repricing of $2.7 billion in term loans, anticipating $23 million in annual interest savings.
Jazz Pharmaceuticals (Nasdaq: JAZZ) announced the election of Laura Hamill to its Board of Directors at the Annual General Meeting. Ms. Hamill, a 35-year pharmaceutical industry veteran, brings extensive executive leadership and global commercial operations expertise. Shareholders also re-elected Kenneth O'Keefe and Mark Smith, while Patrick Kennedy was appointed earlier this year.
Ms. Hamill previously served as Executive Vice President of Worldwide Commercial Operations at Gilead Sciences and held various executive positions at Amgen Inc. She currently serves on the boards of Y-mAbs Therapeutics, BB Biotech, and Unchained Labs. The election reflects Jazz's focus on Board renewal, with five new directors appointed in the past five years. Peter Gray and Catherine Sohn have retired from the Board, which now comprises twelve directors.
Jazz Pharmaceuticals celebrated Pride Month with an insightful discussion led by Celia Sandhya Daniels (she/they), focusing on education, awareness, and allyship for the LGBTQ+ community. Celia shared her personal experiences as a trans woman living in India and the U.S., highlighting the challenges faced and the importance of transformative allyship.
The event aimed to create a welcoming and inclusive society for all LGBTQ+ individuals. Jazz Pharmaceuticals emphasized the significance of understanding diverse perspectives and promoting acceptance. This initiative aligns with the company's commitment to diversity, equity, and inclusion in the workplace and broader society.
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